Florida Senate - 2010 SB 1432
By Senator Wilson
33-01379-10 20101432__
1 A bill to be entitled
2 An act relating to the State Housing Trust Fund;
3 amending s. 201.15, F.S.; revising provisions
4 governing the distribution of a portion of the
5 proceeds of the excise tax on documents to the State
6 Housing Trust Fund; providing for the annual
7 appropriation of a portion of the taxes distributed to
8 the State Housing Trust Fund for specified uses
9 conforming to the purposes for which the fund was
10 created; providing an effective date.
11
12 Be It Enacted by the Legislature of the State of Florida:
13
14 Section 1. Subsections (9) and (10) of section 201.15,
15 Florida Statutes, as amended by chapter 2009-271, Laws of
16 Florida, are amended to read:
17 201.15 Distribution of taxes collected.—All taxes collected
18 under this chapter are subject to the service charge imposed in
19 s. 215.20(1). Prior to distribution under this section, the
20 Department of Revenue shall deduct amounts necessary to pay the
21 costs of the collection and enforcement of the tax levied by
22 this chapter. Such costs and the service charge may not be
23 levied against any portion of taxes pledged to debt service on
24 bonds to the extent that the costs and service charge are
25 required to pay any amounts relating to the bonds. After
26 distributions are made pursuant to subsection (1), all of the
27 costs of the collection and enforcement of the tax levied by
28 this chapter and the service charge shall be available and
29 transferred to the extent necessary to pay debt service and any
30 other amounts payable with respect to bonds authorized before
31 January 1, 2010, secured by revenues distributed pursuant to
32 subsection (1). All taxes remaining after deduction of costs and
33 the service charge shall be distributed as follows:
34 (9) Seven and fifty-three hundredths The lesser of 7.53
35 percent of the remaining taxes collected under this chapter or
36 $107 million in each fiscal year shall be paid into the State
37 Treasury to the credit of the State Housing Trust Fund and shall
38 be used as follows:
39 (a) Half of that amount shall be used for the purposes for
40 which the State Housing Trust Fund was created and exists by
41 law.
42 (b) Half of that amount shall be paid into the State
43 Treasury to the credit of the Local Government Housing Trust
44 Fund and shall be used for the purposes for which the Local
45 Government Housing Trust Fund was created and exists by law.
46 (10) Eight and sixty-six hundredths The lesser of 8.66
47 percent of the remaining taxes collected under this chapter or
48 $136 million in each fiscal year shall be paid into the State
49 Treasury to the credit of the State Housing Trust Fund and shall
50 be used as follows:
51 (a) Twelve and one-half percent of that amount shall be
52 deposited into the State Housing Trust Fund and be expended by
53 the Department of Community Affairs and by the Florida Housing
54 Finance Corporation for the purposes for which the State Housing
55 Trust Fund was created and exists by law.
56 (b) Eighty-seven and one-half percent of that amount shall
57 be distributed to the Local Government Housing Trust Fund and
58 used for the purposes for which the Local Government Housing
59 Trust Fund was created and exists by law. Funds from this
60 category may also be used to provide for state and local
61 services to assist the homeless.
62 Section 2. The Legislature shall annually appropriate at
63 least 90 percent of the tax proceeds distributed to the State
64 Housing Trust Fund for the purpose of providing affordable
65 housing units and other purposes for which the State Housing
66 Trust Fund was created.
67 Section 3. This act shall take effect July 1, 2010.